- Jim Cramer, the famous Wall Street investor and host of Mad Money, has turned bullish on Bitcoin, calling it a “winner” and urging investors to own it outright.
- Bitcoin is nearing $100,000, fueled by optimism around Donald Trump’s potential pro-crypto stance and hopes for favorable regulation if he becomes president again.
- Cramer’s views on Bitcoin have shifted dramatically over the years, going from skepticism in 2012 to full endorsement in 2024.
Jim Cramer, host of CNBC‘s Mad Money, has changed his tune and is now fully endorsing Bitcoin. Known for his fast-changing views on markets, Cramer’s endorsement is a big deal for Bitcoin as it nears the $100,000 mark.
Cramer’s Past Skepticism of Bitcoin
In the past, Cramer has been skeptical of Bitcoin due to its lack of regulation and central authority. Back in 2012, he saw it as risky and not a real asset class.
Cramer’s Change of Heart
In 2021, as institutional investors began buying Bitcoin, Cramer warmed up to it, calling it an asset “worth watching.” As inflation fears grew, he said Bitcoin was a good hedge against money printing by central banks.
Recent Bearishness and Renewed Optimism
In early 2024, Cramer briefly turned bearish on Bitcoin again, saying he wanted to avoid it. But with prices skyrocketing to nearly $100k, Cramer is now fully bullish, saying investors should own Bitcoin outright.
Drivers of the Current Bitcoin Rally
The recent 130% Bitcoin rally in 2024 is driven by optimism over Trump’s potential pro-crypto presidency. Analysts also speculate Bitcoin could become part of US monetary policy. Short squeezes in derivatives markets have added further momentum.
Conclusion
Cramer’s bullish endorsement comes at a critical time for Bitcoin. With prices nearing $100k, his backing indicates growing mainstream acceptance of cryptocurrencies as legitimate investments.
